For the fifth year in a row, District 196 was selected to receive the Certificate of Excellence in Financial Reporting from the Association of School Business Officials International. This year's award recognizes excellence in the preparation and issuance of the district's comprehensive annual financial report for fiscal year 2006.

The Certificate of Excellence is the highest recognition of school district financial operations offered by ASBO, a professional organization with more than 6,000 members. In a notification letter to the district, ASBO Executive Director John Musso wrote: "This award represents a very significant achievement and reflects your commitment to the highest standards of school system financial reporting."

The nationally recognized Certificate of Excellence program reviews and critiques district accounting practices as represented in the comprehensive annual financial report and recognizes school districts that adhere to sound principles and reporting procedures. Since its inception in 1972, the program has gained the distinction of being a prestigious national award recognized by accounting professionals, underwriters, securities analysts, bond rating agencies, state and federal agencies, and education, teacher and citizen groups. Receiving the award has meant stronger investor confidence and a positive impact on debt issuance for many school districts.

Only approximately 400 school districts nationally apply for the award each year, based on the minimum criteria, and fewer than 5 percent of Minnesota school districts received the Certificate of Excellence award this year. The District 196 finance department has received the award in each of the five years it has applied.

Superintendent John D. Currie gave special thanks to finance director Jeff Solomon, coordinator of finance Stella Johnson and the entire finance department staff for their hard work and excellence in managing district finances and reporting them to the public.

The 2006 comprehensive annual financial report was approved by the School Board last November. The complete report is available in the finance department section of the district Web site at www.district196.org/finance/, along with financial reports and budgets dating back to fiscal year 1999.

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